Tinubu’s diplomacy key to Nigeria’s economic recovery — APC

The National Chairman of the All Progressives Congress (APC), Professor Nentawe Yilwatda, has praised President Bola Ahmed Tinubu’s international diplomacy, describing it as a central pillar of Nigeria’s ongoing economic revival and reform agenda.

In a statement issued in Abuja on Tuesday through his media aide, Abimbola Tooki, Yilwatda said the president’s foreign engagements since assuming office in May 2023 have helped secure over $50 billion in foreign direct investment (FDI) commitments, stressing that the trips are strategic economic missions rather than ceremonial visits.

According to him, President Tinubu’s engagements with global leaders and investors are aimed at repositioning Nigeria as a competitive destination for capital at a time when the country is implementing far-reaching economic reforms.

“Mr President’s engagements with strategic global partners underscore his unwavering commitment to advancing Nigeria’s economic interests,” Yilwatda said. “These visits are already yielding tangible outcomes that will support long-term national prosperity.”

Since taking office, Tinubu has undertaken high-level diplomatic missions across Africa, Europe, Asia, the Middle East and the Americas, holding bilateral and multilateral talks with leaders in countries including the United States, China, Germany, India and Saudi Arabia.

Yilwatda noted that the engagements are expected to unlock investments across critical sectors such as energy, manufacturing, agriculture, infrastructure and technology.

He highlighted the Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates as one of the administration’s landmark achievements, noting that the deal is designed to deepen bilateral trade, attract infrastructure financing and expand cooperation in energy, logistics and industrial development.

Yilwatda also dismissed criticisms over the frequency and cost of the president’s foreign travels, arguing that such assessments fail to account for the long-term economic benefits.

“Those who focus solely on the cost without recognising the returns are missing the bigger picture,” he said, urging Nigerians to view the engagements through the lens of investment attraction and economic repositioning.

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Reacting, Dr. Akinola Aguda, a Lagos based economist, said Tinubu’s diplomacy has improved Nigeria’s visibility among global investors but stressed that translating commitments into actual inflows is key.

“Global engagements are important for rebuilding investor confidence, especially after major reforms such as fuel subsidy removal and exchange rate liberalisation,” Aguda said. “However, what will ultimately matter is how quickly these investment pledges are converted into real projects that create jobs and boost productivity.”

Similarly, energy economist Kelvin Emmanuel noted that Tinubu’s outreach to Middle Eastern and Asian investors has been particularly significant for Nigeria’s energy transition and infrastructure needs. He said sustained policy consistency and regulatory clarity would be critical to retaining investor interest generated by the president’s diplomacy.

Beyond foreign engagements, Yilwatda pointed to Tinubu’s broader reform agenda, including fiscal consolidation, tax reforms, and institutional strengthening, as evidence of a deliberate strategy to stabilise and grow the economy.

He said the reforms, though difficult, are necessary to place Nigeria on a sustainable growth path.

“Nigeria’s reform programme under President Tinubu is bold, strategic and necessary,” Yilwatda said. “We urge all Nigerians to support these efforts with patience, knowing that the dividends will be felt across the economy in the medium to long term.”

As Nigeria navigates a challenging economic transition, analysts say the success of the president’s global outreach will ultimately be measured by improved investment inflows, job creation and sustained growth across key sectors of the economy.